TEMPO.CO, Jakarta - President Joko “Jokowi” Widodo in his opening speech at the Mandiri Investment Forum on Wednesday asserted that exports of bauxite ore, copper, and tin ingot will be stopped in 2023, which is intentionally aimed to boost domestic downstream industries.

“Bauxite [exports] will be halted in June, I will also soon announce the end of copper [export] this year,” said the President in the event held in Jakarta on February 1.

He believes the key to Indonesia’s advancement into becoming a developed nation lies in the downstream industry amidst a myriad of mining products.

"Allow me to give an example, Indonesia is the world’s third in terms of bauxite ore exports but our aluminum exports are 33rd globally, let alone exports of solar panels, which ranks 31st, even though the material is here," said Jokowi.

Currently, Indonesia is the number one exporter of tin ingots, and Indonesia's tin reserves are considered to be the second largest in the world.

"China is the number one importer of tin raw materials. If we make PCB components, the added value can be 69-fold. Why don't we make them? Why do we export (tin ingots) and let other countries benefit from it," he lamented.

Jokowi said the projected impact of downstream mining and oil and gas will increase Indonesia’s GDP by US$ 699 billion and grow the number of jobs to 8.8 million, “this is a very substantial impact," the President asserted.

ADE RIDWAN YANDWIPUTRA

Click here to get the latest news updates from Tempo on Google News